Springer Electric Cooperative Inc

Nonprofit profile at a glance

EIN
850083345
IRS 990 coverage
2020–2025
Forms available
Form 990 2025
Location
Springer, NM, USA
Phone
5754832421
Rating
31
Verdict
REVIEW
Rating confidence
Moderate
Sector
Public Utilities

Reported finances

Revenue
$21,331,582
Expenses
$21,331,582
Assets
$57,505,509
Liabilities
$31,560,770

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

13 people listed

Executive titles in this filing

  • Gary Shaw (Director - Vice President)
  • Timothy Morrow (Director - President)
  • David Spradlin (CEO)

Highest reported compensation

  • David Spradlin (CEO): $472,866 total reported compensation
  • Ronald Brashear (Line Superintendent): $217,665 total reported compensation
  • John Weisdorfer (Operations Manager): $215,783 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Sale and distribution of electric energy at the lowest possible price and in the most reliable manner

What it reported doing in 2025

Total members as of 12 31 2025 - 1,874 Total services in place as of 12 31 2025 - 3,026

Operating model

Revenue model
Other-operating. 100% of the money available for current operations came from other operating revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

REVIEW - The filed numbers largely add up. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 71
  • Accountability: 32
  • Sustainability: 37
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Pass
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 3rd percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 0%; rating input score 23; 23rd percentile among comparable filings
  • Total-asset coverage ratio: 2.7; rating input score 62; 62nd percentile among comparable filings
  • Liabilities to assets ratio: 0.55; rating input score 23; 23rd percentile among comparable filings
  • Officer compensation ratio: 6.9%; rating input score 43; 43rd percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -0.3% per year; rating input score 0; 5th percentile among comparable filings
  • Asset growth: 7.4% per year; rating input score 100; 53rd percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 0 of 7 board members independent · 7 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $21.3M in reported program spending
  • Leadership: top reported pay $473K · 13 people listed · 2 of 6 pay-setting controls reported
  • Highest-paid contractors: 3 contractors listed · $1.9M reported
  • Consistency: 24 of 44 current checks pass · 20 findings to review
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 6 filing years from 2020 to 2025
  • Contacts: How to reach this organization
  • Money network: 13 filed money-flow records
  • Related organizations: 2 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Accountability: Independent voting board scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Sustainability: Operating margin scored 23/100.
  • High — Sustainability: Liabilities to assets ratio scored 23/100.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX Advertising column sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX AllOtherExpenses column sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX BenefitsToMembers column sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX CompCurrentOfficersDirectors column sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX DepreciationDepletion column sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX FeesForServicesAccounting column sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX FeesForServicesInvstMgmntFees column sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX FeesForServicesLegal column sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX FeesForServicesOther column sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX InformationTechnology column sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX Insurance column sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX Interest column sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX OfficeExpenses column sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX OtherEmployeeBenefits column sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX OtherSalariesAndWages column sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX PaymentsToAffiliates column sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX PayrollTaxes column sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX PensionPlanContributions column sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX Travel column sum did not reconcile in the filed values.
  • Moderate — Sustainability: Officer compensation ratio scored 43/100.